Entrepreneur turned investor Paul Haydock has launched Founder Fundraising, a new service, based in Manchester, that has been set up to help Northern tech founders successfully raise investment.
Paul previously raised one of the biggest rounds of investment outside of London for one of his own businesses, DueCourse (now Autopaid). He has cofounded three technology businesses in the North and has over ten years of experience with investors, VCs and scaling businesses.
Having experienced first-hand the frustration of spending hundreds of hours travelling south to raise funding for his own businesses, Paul is determined to help close the funding gap between London and the North.
According to the latest data*, there’s a “regional funding disparity” between companies operating in and outside of the capital with London start-ups raising 72% of the total acquired by British tech firms in the last year alone. He believes his initiative will help create more jobs, stem the ‘brain drain’ from the North and create more prosperity for the region.
He says: “The funding gap between the North and the South isn’t a myth. It really exists. I personally want to help champion the region’s tech start-ups and level the playing field.
As a founder it is hard enough to grow your business, hire staff, build the product and service existing customers. To simultaneously plan and execute a professional fundraising campaign can often be a stretch too far for many founders.
Using my experience of raising investment, I can take some of the load off Northern founders and connect them directly to the right investors so they achieve the best outcome as quick and painlessly as possible.”
Having being based in the region for over 10 years, Paul sees the North West tech start-up scene undergoing massive expansion and technology is key to transforming the region’s economy, reputation, and talent base.
“At the moment, around three-quarters of all investment goes to London companies*. However investors from all over the UK and around the world acknowledge that significant innovation is happening up here. Despite the uncertain times we are in, the region is thriving and entrepreneurs from all walks of life are continuing to launch new products and services. I’m passionate about helping to grow the vibrant Northern tech scene and I’m now looking to actively connect with entrepreneurs who are thinking of taking on investment to accelerate their businesses.”
Paul’s previous business ventures include Autopaid, a cloud-based invoice financing company, and MyParcelDelivery (now Sorted Group), a parcel delivery comparison site.